IBM secured a proposed $1 billion U.S. Commerce Department grant under the CHIPS and Science Act. This funding will establish America’s first dedicated quantum chip manufacturing facility.
A new standalone company named Anderon will manage the New York-based operations. The facility will focus on producing 300-millimeter quantum wafers to scale the technology.
IBM is matching the government grant with a $1 billion investment of its own. The company will also contribute intellectual property and personnel to the project.
The initiative aims to build a domestic supply chain for specialized quantum hardware. IBM shares rose in premarket trading following the announcement.